Common use of LTV, PMI Policy; LPMI Policy Clause in Contracts

LTV, PMI Policy; LPMI Policy. No Mortgage Loan has a LTV greater than 95%. Except as indicated on the Data File, if the LTV of the Mortgage Loan was greater than 80% at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy which is not an LPMI Policy, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy other than an LPMI Policy obligates the Mortgagor, thereunder to maintain the PMI Policy other than an LPMI Policy and to pay all premiums and charges in connection therewith;

LTV, PMI Policy; LPMI Policy. No Except as indicated on the Mortgage Loan Schedule, no Mortgage Loan has a LTV greater than 95100%. Except as indicated on the Data File, if If the LTV of the Mortgage Loan was greater than 80% at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy which is not an LPMI Policy, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy other than an LPMI Policy obligates the Mortgagor, Mortgagor thereunder to maintain the PMI Policy other than an LPMI Policy and to pay all premiums and charges in connection therewith;